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Components of Net Periodic Benefit Cost | 3 Months Ended
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Mar. 31, 2021
Retirement Benefits [Abstract] |
Components of Net Periodic Benefit Cost | Components of Net Periodic Benefit Cost
|  | Three Months Ended March 31, |  |
(Dollar amounts in thousands) |  | Pension Benefits |  | Post-Retirement Health Benefits |  |  |  |
|  | 2021 |  | 2020 |  | 2021 |  | 2020 |  |  |  |  |  |  |  |
Service cost |  | $ | 339 |  |  | $ | 325 |  |  | $ | 11 |  |  | $ | 10 |  |  |  |  |  |  |  |  |
Interest cost |  | 658 |  |  | 779 |  |  | 26 |  |  | 31 |  |  |  |  |  |  |  |  |
Expected return on plan assets |  | (1,178) |  |  | (1,050) |  |  | — |  |  | — |  |  |  |  |  |  |  |  |
Net amortization of prior service cost |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |
Net amortization of net (gain) loss |  | 518 |  |  | 492 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |
Net Periodic Benefit Cost |  | $ | 337 |  |  | $ | 546 |  |  | $ | 37 |  |  | $ | 41 |  |  |  |  |  |  |  |  |
Employer Contributions First Financial Corporation previously disclosed in its financial statements for the year ended December 31, 2020 that it expected to contribute $2.3 million and $715 thousand respectively to its Pension Plan and ESOP and $240 thousand to the Post Retirement Health Benefits Plan in 2021. Contributions of zero have been made to the Pension Plan thus far in 2021. Contributions of $56 thousand have been made through the first three months of 2021 for the Post Retirement Health Benefits plan. No contributions have been made in 2021 for the ESOP. The Pension plan was frozen for most employees at the end of 2012 and for those employees there will be discretionary contributions to the ESOP plan and a 401K plan in place of the former Pension benefit. In the first three months of 2021 and 2020 there has been $552 thousand and $412 thousand of expense accrued for potential contributions to these alternative retirement benefit options.

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